Reference no: EM131817247

Question - Sandy McPherson has started a new law firm on January 2013. During the first month of Operations, the business completed the following transactions:

Jan 2 Sandy deposited $36000 cash in the business bank account,

Jan 3 Purchased supplies, $500 and furniture, $2600 on credit

Jan 4 Performed legal service for a client and received cash $1500

Jan 7 Paid cash to acquire land for a future office site, $22000

Jan 11 Prepared legal documents for a client on credit, $900

Jan 15 Paid Secretary's salary, $570

Jan 16 Paid for the furniture purchased January 3 on account

Jan 18 Received $1800 cash for helping a client sell real estate

Jan 19 Defended a client in court and billed the client for $800

Jan 29 Received cash on account, $400

Jan 31 Paid Secretary's salary, $570

Jan 31 Paid rent expense, $700

Jan 31 Withdrew $2200 for personal use

Required:

1. Record the transactions in the journal, using the account titles given, key each transaction by date, Narrations are not required.

2. Post the transactions to t-accounts, using transaction dates as posting references in the ledger.

3. Prepare the trial balance of Sandy McPherson, solicitor, at 31 January 2013.